According to the report by Expert Market Research (EMR), the global small hydropower market size reached a value of approximately USD 2.11 billion in 2022. Aided by the rising demand for renewable energy sources and the increasing applications of small hydropower systems in various regions, the market is projected to further grow at a CAGR of 2.70% between 2023 and 2028 to reach a value of USD 2.48 billion by 2028.
Small hydropower is a form of hydroelectric power that harnesses the energy of running water from rivers, streams, and even small flowing bodies of water, with an installed capacity not exceeding 10 MW. It plays an instrumental role in providing a renewable, consistent, and environmentally friendly source of electricity, aiding the small hydropower market growth. In addition to its power generation features, small hydropower also exhibits remarkable traits in community development and water resource management, establishing it as a valuable asset in a variety of regional and rural applications such as irrigation, aquaculture, and domestic use.
The burgeoning global predilection for renewable and sustainable energy sources propels the small hydropower market growth. With the increasing cognizance of the environmental advantages linked with renewable energy generation, a noteworthy shift towards green energy sources has been observed. This shift has triggered a surge in demand for small hydropower systems. Moreover, the upswing in trends of rural electrification and decentralised energy generation has further cemented the growing popularity of small hydropower.
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The diversifying applications of small hydropower in various geographies also play an integral role in accelerating the small hydropower market development. In secluded and off-grid areas, small hydropower is harnessed as a dependable and sustainable power source. The agricultural sector utilises small hydropower for its irrigation and aquaculture needs, providing an efficient solution for energy and water management.
Furthermore, the swelling demand for electrification in developing nations has directed a heightened focus on small hydropower as a viable solution for power generation. With the ascendancy of industrialisation and the escalating need for electricity, small hydropower has surfaced as a key player in satiating global energy demand, thereby stimulating the small hydropower market expansion.
The global small hydropower market is on a trajectory for significant growth over the next few years, spurred by the escalating demand for renewable energy sources, the diversifying applications across various geographies, and the growing trend of rural electrification and decentralised energy generation.
Market Segmentation
The market can be divided based on capacity, type, component, and region.
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Market Breakup by Capacity
• Up to 1 MW
• 2- 10 MW
• Others
Market Breakup by Type
• Micro Hydropower
• Mini Hydropower
Market Breakup by Component
• Electromechanical Equipment
• Electric infrastructure
• Civil Works
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global small hydropower companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Voith GmbH & Co. KGaA
• ANDRITZ AG.
• Siemens AG
• Toshiba Energy Systems & Solutions Corporation (“ESS”)
• Canyon Hydro
• Others
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